EURUSD is trading around 1.0860-1.0850. Short-term trend remains bullish as price continues making higher highs and higher lows. Price continues to respect the red upward sloping support trend line. EURUSD has so far managed to reach the 50% Fibonacci retracement level. A break above 1.0860 will open the way for a move even higher towards the next Fibonacci retracement at the 61.8% level. At 1.0915 we find the 61.8% retracement level. As long as price is above 1.08, we remain short-term bullish.
The material has been provided by InstaForex Company – www.instaforex.com
Red line -support trend line
Violet lines- Fibonacci retracement levels
EURUSD is trading around 1.0860-1.0850. Short-term trend remains bullish as price continues making higher highs and higher lows. Price continues to respect the red upward sloping support trend line. EURUSD has so far managed to reach the 50% Fibonacci retracement level. A break above 1.0860 will open the way for a move even higher towards the next Fibonacci retracement at the 61.8% level. At 1.0915 we find the 61.8% retracement level. As long as price is above 1.08, we remain short-term bullish.
The material has been provided by InstaForex Company – www.instaforex.com
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